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UNIT OFFERING OF DEBENTURES AND WARRANTS
MONTREAL, Jan. 17, 2013 /CNW/ - Amaya Gaming Group Inc. (" Amaya" or the " Company") (TSXV: AYA), an entertainment solutions provider for the regulated gaming industry, is pleased to announce that it has entered into an agreement to sell to a syndicate of underwriters led by Canaccord Genuity Corp., 20,000 units (the " Units") at a price of $1,000 per Unit, to raise gross proceeds of $20,000,000 (the " Base Offering").
In addition, the Company has granted the Underwriters an option (the " Underwriters' Option") to purchase up to 10,000 Units exercisable at any time, in whole or in part, 48 hours prior to the closing date of the Base Offering (together with the Base Offering, the " Offering"). If the Underwriters' Option is exercised in full, the total gross proceeds to Amaya will be $30,000,000.Each Unit will consist of: (i) $1,000 principal amount of unsecured non-convertible subordinated debentures (the " Debentures"); and (ii) 48 non-transferable common share purchase warrants (each a " Warrant"). The Debentures will bear interest at a rate of 7.50% per annum payable semi-annually in arrears on January 31 and July 31 in each year commencing July 31, 2013. The first payment will include accrued interest from and including the closing date but excluding July 31, 2013. Interest payments will be satisfied through cash payment and the Debentures will have a maturity date of January 31, 2016. Each Warrant will entitle the holders thereof to acquire one common share of the Company at a price per common share equal to $6.25 at any time up to a period ending January 31, 2016. The underlying securities will be subject to a four-month plus one day statutory resale restriction.